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>> i am melissa francis. >> i am lori rothman. so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being star
witt" starts now. >>> almost nowhere. that's the words from the gop on fiscal cliff talks. but exactly where is that? and how will congress and the white house get somewhere? >>> the tug-of-war in the middle east. some new wrinkles that beg the question, is any resolution in sight for israel and the palestinians? >>> unsolved mystery. that huge powerball jackpot raised some unanswered questions beyond who won. >>> having their cupcake and eating it, too. big new twist in the hostess going out of business story. good morning, everyone. welcome to "weekends with alex witt." let's get to what's happening right now out there. there is new intrigue in the fight over the fiscal cliff talks today. both sides have messages out this morning that seem to echo the same old position. this on the heels of president obama holding a campaign-style event in suburban philadelphia to sell his solution. he said if congress does not extend the bush tax cuts for the middle class, everyone's taxes will go up january 1st. >> i'm assuming that doesn't sound too good to you. that's sort of like the lump of coa
. >> thank you. >> senator sessions demanding the fiscal cliff talks be taken out of shadows. why does he accuse the president of holding secret negotiations. he's here next. >> many small business owners saying they can't pay for obamacare. that is not the only thing about the health care law that has them worry. a las vegas business owner here to tell you about another problem. it may turn out to be your problem. >> plus, he's back! who could forget the drunk guy singing bohemian rhapsody in a police car. you don't want to miss this. ♪ ♪ this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. ♪ music kids will spend 22 minutes watching us, the super duper party troopers, sing about ants in their pants. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. >> greta: what is the big secret about the fiscal cliff? senator jeff sessions blastin
demanding the fiscal cliff talks be taken out of the shadows. why does he accuse the president of secret negotiations? that's next. many small business owners saying they can't pay for obamacare. but that's not the only thing about the health care law that has them worried. a las vegas business owner tells you about another big problem, one you probably haven't heard about before that may be your problem. plus, he's back. who could forget the drunk guy singing bohemian rhapsody in a police car. wait until you see what he is up to now. you don't want to miss this. it istory of moms, has ever turned down a handmade ornament. that's why we sat up santa's wonderland at bass pro shops. kids can get their free picture with santa, and this week make a... all for free. >> greta: what is the big secret about the fiscal cliff? senator jeff sessions blasting president obama and congressional leaders for holding secret talks. he joins us. what do you moon by secret? >> these talks are -- these talks are going on somebody leaked part of what is going on some sort of outline from the white house that
. at a time we're talking about raising taxes and the fiscal cliff and what financial problems we're in this country, i read these numbers i want to tear my heart out. how do you feel? >> melissa, it is worse than that. in '09 he had the navy pay $424 a gallon for 20,000 gallons. that is fuel on the market you could buy for $3 a gallon. $424 a gallon. in mind, this president has had a war on our defense system. he disarmed america. he has done away with our brigade combat teams, our ships, our f-22s, c-17s, future combat systems. he uses the excuse. no, i have not reduced the budget for the defense. but what he has done, melissa is move his green agenda into the, under the defense so we're paying for all this. now, senator mccain and i took this out. we had two changes that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then, we also have had a prohibition against using defense dollars to build refineries. that can be done in the private sector. well on the floor
on spending cuts within the budget plan to be included in the fiscal cliff talks. >> can you also look in the camera and say dear democrats, both for and include some of the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that ws voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted maj spending cuts and entitlement reform will not be part of these talks. nancy pelosi has been noncommittal about whether cuts will be in the deal. still, they are trying to breathe into the talks with vice present biden shopping avenue costco in washington, picking up a big-screen tv and an apple pie and insisting he is optimistic of the deal. >> i am. all these folks in the store. they are ing to make a difference. reporter: a phone call last night betwee speaker boehner and the president was very curt. it signaled that the presi
both. last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6 trillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on pper income folks go up. gerri: it sounds like the same old, same old. the president has been making the same comments agai is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying. this
in preparation or all been wary about the fiscal cliff, let's see where we are, talking about a dollar jumping, positive for the weekend all up arrows and a great day on wall street after yesterday when tim geithner was sounded more optimistic and we continued that trend to the upside today but a short time ago we saw john boehner talking and sounding less optimistic and somewhat pessimistic. when you don't see clarity and you don't have bipartisan agreement you see the markets do a reversal and that is what you see on this injured they chart with the s&p 500 still holding the 1400 mark to the key psychological level but this shows how temperamental this market is and we have seen so many companies beating up their dividend payout in order to beat taxes that are likely to go up next year so there's a lot of maneuvering going on. dagen: cheryl: market analyst quoting john boehner unit is about washington. thank you very much. it is a busy day in washington and new york is watching, tim geithner is meeting with congressional leaders in an effort to make headway on a fiscal cliff deal. peter barn
. lori: and now "gangnam style." alan simpson briiging fiscal cliff talks to a whole new level. neil cavuto is up next with his trademark move. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. relieving the pain quickly. i have obligations. cute tobligations, but i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishas core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for tir etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. melissa: it is time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange. our own nicole petallides standing by. watc
miss them. now time for the last word. have a great weekend. >>> the fiscal cliff talks just turned into the godfather. part 2. >> america only thrives when we have a strong and growing middle class. >> the president hits the road today. >> back on the road today. >> to sell his proposal to avoid the fiscal cliff. >> we've got important decisions to make. >> obama played a kind of hard ball. >> let's play hall. >> all of us have to get out of our comfort zones to make that happen. >> we are ready to work for the president. >> buffed the president's proposal. >> the wrong approach. >> tim geithner brought them a deal. >> it didn't go bellwell. >> they thought was lewdrous. >> gave republicans nothing. >> my offer is this. >> my offer is this. >> nothing. >> nothing. >> republicans were very much offended. >> mitch mcconnell lasted at the offer. >> burst into laughter. >> laughing at the president's package -- >> that catch them by surprise at all? >> they have to come up with their pennsylvania package. >> we are ready to work with him. >> i promise ton laugh at it. >> we can solve t
tim geithner. that is president obama's lead negotiator in the fiscal cliff talks. it's all happening tomorrow on fox news sunday. check your local listings for the time and channel in your area. >> rick: speak of the president, we could soon be learning who he wants to have serve in his administration in his second term. source telling fox news, a slate of nominations could be coming this month and that would likely include a replacement for the defense secretary, leon panetta, and if that does happen, it will come a little sooner than a lot of people had expected. the short list reportedly includes former republican senator chuck hagel, deputy defense secretary ashton carter, michelle floroni, a top official and democratic senator john kerry >> arthel: a reported murder-suicide rocking the nfl today. police say kansas city chiefs linebacker gentleman von belcher shot and killed his girlfriend this morning. he than drove to arrowhead stadium where he killed himself in front of his coach and general manager. elizabeth prann live from atlanta with more on this very sad story. elizabeth
that we are now 28 days frrm going over the fiscal cliff with no talks taking place between either side and more troubling, no talks scheduled between the president and house speaker. we take all of this up here tonight with former special assistant to president george w. bush, veteran democratic politicos strategist and republican pollster. president obama issued a warning to syrian leader declaring there will be consequences if syria uses chemical weapons on its own people. the president's steered clear of defining those consequences. egis political crisis is widening cajon. a general strike to protest the presence unrestricted new powers. in this country's hospitals that deadly new bacteria that is more than just drug-resistant, it is draw prevent spreading. just how high is that this book of? we begin tonight with the fiscal clef which produced more far spent progress rejecting the speaker of the house claim that no progress is being made >> the house speaker said on fox news sunday right now i would say we are nowhere in terms of the fiscal cliff negotiations. does the president ag
're talking a bull or a bear market. wa wall street is saying about the fiscal cliff. plus kate out of the hospital but is she out of the woods. she's out of the hospital after battling a treatment for severe morning sickness. we get a report from london straight ahead. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi price rewind. avoid bad.fats. don't go over 2000... 1200 calories a day. carbs are bad. carbs are good. the story keeps changing. so i'm not listening... to anyone but myself. i know better nutrition when i see it: great grains. great grains cereal starts whole and stays whole. see the seam? more processed flakes look nothing like natural grains. you can't argue with nutrition you can see. great grains. search great grains and see for you
as part of a fiscal cliff deal. it's on the table. okay? we're talking about that coming up at the top of the hour, one of our new at 10 stories. all right, back to nicole, research in motion, all right, all over the place these days, but today they're up and i want to know why. >> a buy rating for goldman sachs equals up arrow and this is as simple as wall street gets. you've got positive comments right now on blackberry, for research in motion and the blackberry 10 coming out on january 30th, goldman sachs is saying that the first time in three years the street's estimates are just too low for forth coming device and the risk rewards looks really good here and it depends if this device is a good one and that's why you see, and the price target, they have a new price target, stuart, $16 up from $9 and they see upside potential. stuart: we'll see, and i have your seven early movers for you, the women's apparel maker cold water creek took in more than expected and that stock is up. oh, 11%. disappointing profits from lazy boy and semtech is up big. and aeropostale on the holiday season,
as leverage. so if they lost this first round to fiscal cliff talks they can say we want this and this. so what the administration is going to do is one of two things. insist any fiscal cliff deal includes a raising of the debt ceiling or they're going to say, we want the power to raise the debt ceiling. you know, i think that might actually end up being a big sticking point of the negotiation. >> understandably they see it as the biggest point of leverage. >> it also seems to me the tone is moving in the wrong direction. after the -- right after the election, there was a little bit of recrimination, a little like well, boehner sounded getting squishy and what's happened over the succession of weeks since then, as he's meeting with the caucus, there's a hardening. in terms of -- >> or a disbelief -- a disbelief -- >> comes out and says stuff like that, you read some of the local papers, these people rshs it. >> are telling their local paper we're in a bad negotiation position here. >> the problem is, had he's probably a guy that's going to -- boehner will still be dealing with after januar
in cairo. we will have the latest on that coming up. if you are sick of all this fiscal cliff talk. wayne rogers is also. wayne has the answer to all of our debt problems. he is coming up a little bit later on. first, speaking of markets, let's take a look at current fees and how are faring against the u.s. dollar. ♪ ♪ [ engine vs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz deer. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >> 521 minutes past the hour, i
this fiscal cliff and move on. connell: we probably would be talking a lot more about china and the transition of power and how president obama is supposed to do without. when you say there are economy is not doing that great, does that mean it is in jeopardy of a tough all, or it will hang in there? >> i think it will hang in there. china, i think, will grow. reasonably, i have seen some analysts come out and be pretty bullish. their economy, the outlook is willing not that bright. although, they probably will not fall hard. china is sort of setting their status quo. i think the u.s., again, back to the u.s., they have to get their act together. connell: a few days after the end of the year. that is just silly, if you think about it. if we all know the answers, why do we have to wait until the new year. thank you very much. good to see you. dagen: as the nation waits on washington, what is really going on behind the scenes? brett fair on the timeline for a deal in d.c. the mississippi river will always have its own way. no engineering skill can persuade it to do otherwise. the river is doing
. always talking about the fiscal cliff. i will say good-bye. no fiscal cliff. thank you, gary. pressure. melissa: the problem with online shopping used to be you had to wait in order to get what you ordered but not anymore. retailers are racing to keep up with the new trend of instant gratification shopping with same die delivery. amazon started it. now ebay, google even wal-mart are doing it. they battle who can do it faster and cheapest they only offer same day delivery in selected cities using courier companies like ups -pthe problem with economics of ame day delivery are challenging. analysts estimate the services are money-losers at least for now. kind of makes sense. almost like the airlines of the ones one guy does something everybody else has to do it to compete. lori: nuclear arms race. if you disarmed you would be on equal playing field. melissa: we get used to it and spoiled. to a certain extent you don't know somebody is charging more for the product but you want it that same day. like free same day shipping. >> free shipping with holiday gifts ii melissa: love it. lori: yo
% today. connell: our big question today, should the fiscal cliff talks be televised so we can see the whole thing? neil cavuto is coming in. grover norquist made this suggestion over the weekend. we are not sure whether it is a good idea. lori: it is televised enough. the dow off 23. flirting with 13,000. verisign, green mountain coffee, seeing green. we will be back right after this. ♪ can i help you? i heard you guys can ship ground for less thn e ups store. that's right. i've learned the only way to ge a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ound shipping at fedex office. lori: put it on tv. grover norquist saying the president should go into a room with c-span cameras present. connell: neil cavuto joins us now. what do you think of this idea of putting it on television? neil: i do not think it is a good idea. this would really heighten it a little more. i think grover's point about how they should be held accountable and everyone should see how they come to th
that is fair. about an hour after speaker boehner spoke this morning about the fiscal cliff ago she haitians. in case you missed it, a quick piece of that. >> if you look at the plant that the white house has talked about thus far, they could not pass either house. dagen: rich benson is here. he is joining us with the latest from d.c. >> i think you can tell where the president was heading with this. we know the president lied on this is the campaign to raise taxes on wealthier americans. he says it is all part of the budget that he has put out over the last few years. that budget calling for tax increases over the next decade on families earning more than $250,000 a year. he campaigned on march revenue less than that. tax deductions they can't, they just say they would not raise tax rates. that really has been the key to all of this. connell: we are kind of caught in the middle. you saw the president speaking on the screen while rich was speaking. the audio still is not quite right of it. thank you. there we go. citigroup. another big story today. the stock has been up. 11,000 people, thoug
. the problem is going to be not just the fiscal cliff, but also if it goes down the way and was talking about we're going to have a middle-class txes go up in sequestration as well. disco cliff? >> if congress does nothing every family in america will see their income taxes automatically go up on january 1st. every family. everybody here will see taxes go up. i'm assuming that doesn't sound too good to you. it's sort of like a lump of coal you get for christmas. the scrooge christmas. lou: most people don't even know where the real tax hikes will be coming from. we will fix that in tonight's "chalk talk." massive defense budget cuts not even part of the discussion so far abt the fiscal cliff. those cuts are set to go into affect in three weeks. admiral james lyons joins us in just moments. is what drives us to broadcast the world's biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearlyndestructible laptops, and the sustainable smart towns of the future. atanasonic, we're dri
's the way it will be for much of december, unless there's a huge headline on the fiscal cliff talks. back with the mayor of phoenix trying to lure people away from california. stuart: businesses in california fleeing that state, tax rates, cost of doing business just too much. one place they are going to phoenix, arizona. here's why, according to the phoenix economic council, operating costs are 40% lower than in california. arizona so attractive to business that in the last eight years more than 60 california companies have relocated there. phoenix mayor greg stanton joins us right now. your honor, welcome to the show. good to have you with us. >> great to be on, thanks for having me. stuart: okay, now, you have got a great climate, understand that. your costs are 40% lower, but i want to know, did you prize those california companies over to you by giving them huge tax breaks? >> we want to make sure in arizona that we are as competitive as possible. stuart: is that a yes? programs, tax incentives, but look, a company is not going to move, a company is not going to expand in arizona jus
cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill down on the details, as soon as i saw 800 billion in new tax revenue, my immediate question did they give on the point of marginal rates and from the language it doesn't look like. more a tax code basically closes loopholes. they employ all the euphemisms to say you will get rid of deductions. sounds like that is where the 800 billion in new revenue is coming from. they didn't give on marginal rates at all. >> that is good news but only good news in the sense we're not traveling as fast in the
're going to talk about the fiscal cliff, we're going to talk about the global economy. we're going to talk about the civil war in syria. we'll talk about the royal baby coming soon. first we want to get right to zoraida sambolin for an update on the day's top stories. >> soledad, the fiscal cliff debacle, with 28 days remaining before drastic tax hikes and spending cuts take effect, a republican spending plan has been rejected by the white house. brianna keilar is live from washington. what now, brianna? >> well, right now it's about the pressure building and the clock kicking, zoraida. as house republicans in the white house try to ultimately broker a deal between two very different plans. house speaker john boehner's counteroffer, if you take a look at the headlines from this $800 billion in what would be savings from tax reform. so that is new tax revenue. but not done by increasing income tax rate on the wealthiest. but instead by closing tax loopholes, eliminating tax credits. and also $600 billion in health savings. that's what you'd get from entitlement reform. from reforming medica
, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate, that grants certainty to the middle class, to take that bill up and make sure that we can extend the middle class tax breaks before the holidays where we can give -- that's what everyone agrees on. i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i can assure you, the president and democrats in congress, have consistently said, we're not going to do this -- there is no my way or the highway. we have concrete proposals and compromise on the table, thus far, though, we have republ
's "chalk talk." massive defense budget cuts not even part of the discussion so far about the fiscal cliff. those cuts are set to go into affect in three weeks. admiral james lyons joins us in just moments. [ male announcer ] with over 50 delicious choices of green giant vegetables it's easy to eat like a giant... ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps blo stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. ♪ lou: welcome back. we are talking about the disco cliff. we are going to turn to advance inhe middle east and the united nations this week. judy miller, joe trip be, and rollins. i wanted just go back to the fiscal cliff just for a second. that is, the republican messaging, if you will. they have an opportunity here, it seems to me, as well as a problem, but i don't hear creative, imaginative, if you will, rhetoric or language or positioning or messaging. >> we
and house speaker boehner are talking, but there is still no word of progress on the so-called fiscal cliff or the president's ultimatum. silence indicate a deal in the works or something too ugly for them to contemplate?@ we'll have the latest for you from the white house. white house correspondent ed henry here in just moments, but, first, the money line in hoping washington might get a deal done driving a modestly bullish mood on wall street at the end of the session. investors cheering news in a decline in jobless claims, and household wealth in the country grew by $1.7 trillion, to the highest level in five years, talk about a positive indicator for consumer purchasing. the dow jones industrial up 40 points, the s&p up five, and nasdaq rose 15.5 points. volume? a billion shares lighter than yesterday, but above the average of 3.1 billion trading on the board today. apple rebounded from yesterday's worst date performance in four years, a gain of $8.45 today with the ceo saying apple will move imac computer production to the country in the new year. garmin stock higher to replace rr donl
, 69 times today alone. talk about indecisiveness, does this all fiscal cliff worries? >> it is a double-edged sword as far as the market. you can make a pretty good case for the fact that the market has come in here with all the uncertainty around the fiscal clef. if i were a betting man which i am not, i don't like to take risks but if i were a betting man i would bet the market is trending lower and under a lot of pressure because of the uncertainty generated around the fiscal cliff and the other side of that equation is folks will tell you and i have set a hundred times the markets don't lie and markets see something the financial press and the rest of us don't see because they hang in here. i don't understand it. we should be trading below, just like gold is puzzling. liz: interesting point. is puzzling, when you look at the intraday chart whether it is the dow or the and the crossing the flat line over and over why are the moves so shallow to the upside or downside. a couple points up and down and no real conviction on either side. does that happen next week? >>
economic challenges, the fiscal cliff, we have to talk about that, do you find that farmers are cutting back? >> it is just the opposite. they try to be more advanced in technology. you can do more intelligent farming. also in the case of bad weather conditions. lori: what is the greatest in farming equipment? >> it has everything you would like to have. you could not go to new york and park it and do your business shopping because it goes 40 miles per hour. lori: that is not too shabby. that is actually pretty fast. 13% net profit in the third quarter. what are you forecasting for the duration of the year? >> this is a difficult question to answer. the guidance, about 10 billion topline and 520 and earnings per share. i think that is where we will be, hopefully a little better. i am pretty optimistic for 2013. lori: farming equipment is not my expertise. this is a wonderful segment. thank you very much. really wonderful to meet you this afternoon. thank you. >> thank you. lori: "the closing bell" ringing in about 40 minutes. who will replace timothy geithner? the president may have his
. the middle class' most cherished tax break could be in the crosshairs of the fiscal cliff negotiations. we're talking about the mortgage interest deduction. it's been around for 99 years, but it's costing the government $80 billion this year and will reach $100 billion by 2014 making it the third largest tax expenditure according to the congressional research service. who is it really helping in the most recent irs tax data show 41 million people claim this deduction on their 2010 taxes, but the tax policy center points out it tends to benefit upper middle class families the most. for those with annual incomes of less than $40,000 a year, the average tax savings is just 91 bucks. for the people earning $250,000 a year, the annual tax savings runs about $5,500, and critics say it's not really helping to boost homeownership. going to talk to one of them in a moment. the homeownership rate in the u.s. is now about 65%. it was up near 70% during the housing boom in 2005 and 2006. now we're back to levels we last saw in the 1990s. yes, the great recession is partly to blame, but the fact is we'
that he thinks we should go over the fiscal cliff. everyone i talked to in washington wants to avoid going over the fiscal cliff. and most importantly, they don't want to get the blame for it. that's why republicans will probably be motivate d to negotiate with the white house. it might be christmas eve, but in the end, that's what's going to bring them to the table. >> he said after a week or two, there would be the negotiations. he said instead of a cliff, it was like a curb. david, if americans, though, are going to blame the gop more so than the president, how much leverage does that give the president as negotiations are underway? >> i think it gives him substantial leverage right now. that's why you see him not revealing all his cards saying you have to come to us. speaker ba speaker boehner has to start with this. e he would look his speakership. and said sure, mr. president, we lost the election. this has to be his starting position. it's only december 2nd. we have a month, i think, lindsey graham saying we're going to go over the cliff. i don't buy that either. we have a motto get
obama and somehow would there will be a role maybe in these talks about the fiscal cliff. we don't know a lot about what they talked about. the meeting was about an hour long. they had white turkey chili and southwestern chicken salad. but molly, this is the first time they've seen each other since the election. what do you say beyond congratulations, mr. president? >> goodness knows. it's pretty telling that the most newsworthy item out of that meeting was the lunch menu. the readout we got from the white house was very sort of boilerplate. we do know what didn't happen, unless there's something they're not telling us. romney was not offered a job or a post in the administration, as some had speculated might happen as sort of a conciliatory gesture. who knows if he would have taken that or wanted something like that. it was sort of very tepid, the language that we got, that they would work together in the future if opportunities arose on issues they were both interested in, and they discussed american leadership in the world, which is about the closest you can come to saying absolutely
real talk for a second. there is no fiscal cliff. there's no special deadline. these are long-term debates. you were asking mr. russert about the past negotiations because these are debates we've had in the past that we will continue to have in the future. some people would rather solve them in the bottom of the ninth. that would be better. but if we go into the tenth or 11th inning it's not a cliff because eventually we will work this out. why? congress has a time machine. if they want to make cuts retroactive, if they want to help you in the last fiscal year, if they want to back date things, they can do that, we can't, you can't do that with your own taxes, but the government can. so i agree we are seeing the republicans put the gun to the collective head of the congress and the economy hoping to get the same hostage antics they got before, but let's be clear, if this deal gets done in january or february, as long as it gets done the right way, it will be fine. it's not a cliff. >> do you agree with that, julian? because my understanding is that this would in effect usher i
at the condition dee center. let's talk about this, the end of this month, that's thinking fiscal cliff we've been talking about. and yesterday on the chat shows, it was very clear both sides are at logger heads. this on the news that at the conclusion of last week, the president's team unveiled something that was so, according to the republicans, unserious, it flabbergasted the speaker of the house, john boehner. though tim geithner went out yesterday and said, that plan that we're pushing? it's a good one. here he is. >> we think that's a very good set of proposals. we think that's what's good fort economy. if they've got different suggestions, they want to go further in some areas, they should lay it out to us. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. this offer doesn't remotely deal with entitlement reform in a we to save medicare and medicaid and social security from imminent bankruptcy. it raises $1.6 trillion on job creators that will destroy the economy and there are no spending controls. i'm serious about revenue. you can limit d
on a friday. >> can't think after better way to start my weekend than talking fiscal cliff to you. >> means a lot to me. >> i know. >> the daily beast said obama just got re-elected. it is a classic time for magnonimity. which i think i just mispronounced. do you think obama has a hard line at the wrong time? >>. if sullivan means that obama should negotiate with himself, which you point out, hasn't worked for him before, and b, isn't the way it move forward once you won an election with the what you are arguing over, i disagree. the right way to negotiate is not to come out and say, here is what we want republicans. here is what we want. here is your opening bid as you correctly name this, let's hear yours. >> one thing ways surprised to see in the white house opening bid, the fiscal cliff, which we like to call the austerity crisis because it is just too much austerity, it centers around the reduction and there is too much deficit reduction. the white house add lot of stimulus which folks like your group and you in particular have been calling for for some time. were you surprised to see
we hit the fiscal cliff that everyone is talking about and in public the democrats and the republicans still say they are nowhere close to getting anything done. almost? the latest offer and rejections in washington and protests broke through the barbed wire at presidential palace in the country that is supposed to keep israel and the palestinians from going to war? an update ahead. we have just gotten remainly word of a possible short list of cabinet members for the president. who do you think for defense secretary? someone from the left or the right? the news that broke seconds ago may surprise you. that is ahead. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-255
of the big issues is anybody really talking about what to do with the fiscal cliff other than news conferences an the appearances on the floor and the message is there aren't really serious negotiations going back and forth just yet. the critical moments probably later in december when the pressure of the calendar is greater, tamron. >> all right. kelly o'donnell, thank you. joining us now is congressman yarmuth. about a week ago you were on with my colleague and said you were growing more pessimistic about reaching a deal before the back and forth we have seen. how do you feel right now? >> well, i'm still pretty pessimistic about a deal and optimistic to at least avoid the tax part of the cliff. i get the sense that a growing number of republicans are willing to let the senate bill come to the floor here in the house. which would get almost every democratic vote and a fair number of republican votes. as long as speaker boehner doesn't require there be a majority of his majority to pass that bill, i think we can get that done. i have a sense that's kind of a way we're moving. as t
, and author and radio talk show host monica crowely monk the guests. stay with us, next talking the fiscal cliff and our assertion %-president obama.iff belongs to we'll be right back. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i reay need is sleep. inoducing the ishares core, building blocks for the heart of your portfolio. findut why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 100-ishares for a prospectus wch inclus investment objectives, risks, charges and expenses. read and consider it carefully beforenvesting. risk includes possle loss of principal. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. lou: well, some conservative critics blasting a detroit city councilwoman who says president obama owes the city a federal bailout. her re
the recovery in housing. remember that? we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have
into this morning as we talk about the fiscal cliff. erskine bowles says he thinks democrats and republicans are serious about getting a deal done, but when you hear congressman cole walking back statements, do you think that's true? >> cole doesn't want to be a political target of the right. so he can easily say i really didn't mean that prks and to ge of the news. and probably trying to set the table for other guys. which is a signal that the right wing is still very stuck in con kreetd as you said earlier. they don't want to move. they are denying election results. but there is real ominous things i think that are starting to surface here. any talk of a mortgage deduction change would be horrendous in my opinion and it would fly in the face of everything barack obama and joe biden ran on in protecting middle class. they have to be crystal clear that that is off the table. the housing crisis started the last recession. if they go after mortgage deductions, if they put that on the table even for high end homes, that will change sales, it will reduce prices on homes, it will slow constructio
discussion of the fiscal cliff, given that is what lawmakers are talking about now. mitt romney just arrived here. we're not expecting anything huge to come out of this meeting. no appointment. for example, to the cabinet. but the president certainly, i think, hoping to engage in a serious conversation. this, as you point out, will be just the seventh time that these two have sat down after what was really a bruising fight during the election. this is really about sort of striking a tone of bipartisanship, helping these two former rivals to bury the hatchet but helping, i think the country to move forward, especially as we get closer to that fiscal cliff deadline. >> and ruth is here at the table. one of the issues could be the sort of backdrop the post-election comment by all sides not only mitt romney but also by stewart stevenson, op-ed his adviser. there was a time not long ago when the problems of the democratic party revolved arounding too liberal and dependent on minorities. obama turned those problems in advantages and rode that strategy to victory but he was a charismatic african-am
the real fireworks were. partisan sniping and a clear sign that talks on averting the so-called fiscal cliff and preventing a big tax hike for everybody are going backwards fast. just listen to the democratic senate leader talking about the speaker of the house today. >> i don't understand his brain, so, you should ask him. >> reporter: president obama and speaker boehner spoke by phone last night in a call sources tell abc news was blunt and unproductive. both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable. >> i didn't have my own card with me. jill wouldn't let me have one. >> reporter: vice president biden got into the act today, too, taking a break from ch
and these fiscal cliff concerns really mean for businesses and your money. jim aim most, chairman of tasti delight and plan net smoothie. we have the ceo of fastsigns. jamie richardson is the vice president of white castle. we have a power panel. thanks for joining us. i want to start with news from clarence otis, ceo of darden restaurants. obviously he came out of and said the forecast for his company going forward is looking very bleak. the negative media coverage focused on darden and how they might accommodate health care reform. he said they would have to go ahead and use many more part-time workers because obamacare was simply too expensive. there was a big backlash against that. so he is going to have to go ahead and, as a result, they are going to keep full-time workers on. they're stuck with the cost of obamacare. he also said, they're having a tough time, people aren't coming into the restaurants because the economy is bad. so in my mind he spoke out. he got punished for it. at the same time the economy is terrible. he is really struggling. at the end of the day he will not hire more peo
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